For the past few years, the Indian pharma industry is growing at a magnificent speed. The outbreak of coronavirus disease gave an opportunity to the Indian pharma industry to lead the global market. The world witnessed the velocity of development in the pharma sector during the pandemic. Today, India is the largest distributor for generic drugs and the third-largest pharma industry globally in the context of the volume. At the same time, the Indian pharmaceutical sector stands on the fourteenth rank by value among 195 countries in the world. Interestingly, the Indian pharmaceutical industry is expected to grow three times in the next ten years, reveals the Economic Survey 2020-21.
What is the role of the pharmaceutical industry in India?
The pharma industry trades in generic medicines, branded medicines, and medical devices. The industry is involved in discovering, developing, producing, and marketing drugs for medical uses. The sector focuses on curing patients, vaccinating them, and relieving their symptoms.
India’s pharma industry fulfils more than 50 percent of global demand for different types of vaccines, 40 percent of generic order in the United States, and 25 percent of all medicines in the United Kingdom, securing India an imperative position in the global pharmaceutical market, IBEF suggests. Today, the Indian pharma industry produces 500 types of active pharmaceutical ingredients. About 60,000 generic medicines are only found in ancient India.
Additionally, the Indian government has planned to increase spending on healthcare up to 2.5 percent of the country’s Gross Domestic Product (GDP) in the coming five years, IBEF reveals. The government has also allowed foreign direct investment (FDI) up to 100 percent in the production of medical devices, subject to some conditions.
Furthermore, India has been churning out more pharmaceutical professionals than ever to fulfil the demand for medicine and vaccines worldwide. The top pharmaceutical companies are looking for professionals who can help meet the market demand globally. Thus, it is the right time for students who wish to make a lucrative career in the pharma sector.
Though many colleges or institutions in India offer courses in pharmacy, pursuing it from Dehradun promises you holistic development. Universities in Dehradun provide a degree in Bachelors of Pharmacy (B.Pharmacy), which is a four-year degree programme. You should know the career advantages of B.Pharmacy offered by Dehradun colleges. Students who apply for the course get to learn synthesis, formulation and medicine testing during the studies. Colleges in Dehradun cover a wide range of topics that prepares you for future endeavours.
An aspirant with a minimum of 50 percent in matric and intermediate (Physics, Chemistry, Biology/Maths) is eligible to apply for the course. Also, they are required to qualify in the NEET examination to secure admission in the B.Pharmacy course. After completing the course, a student can work with India’s top pharmaceutical companies such as Sun Pharmaceuticals, Dr. Reddy’s Laboratories, Divi’s Laboratories, Aurobindo Pharma and Cipla.
So, if you are willing to work in the world’s fastest-growing industry, apply for the course today.